what's your open data return investment? by edafe onerhime
TRANSCRIPT
What’s your Open Data ROI?
Edafe Onerhime
Introductions
What is Return on Investment (ROI)?
What is Return on Investment (ROI)?
The benefit to an investor resulting from an investment of some resource
Return on investment: Wikipedia
Why measure Open Data ROI?
Why measure Open Data ROI?▪ Engage Stakeholders▪ Maximise Use▪ Create Common Language▪ Highlight Risks▪ Unearth Hidden Costs
What are the Key Elements of Open Data ROI?
The Open Data ROI Formula
The Open Data ROI Formula
P × B + D > C
A "calculus" for open data: Sahuguet & Sangokoya (2015)
The Open Data ROI Formula(P)robability of Effect × Individual (B)enefit + (D)uty or Global impact > (C)ost of Opening Data
A "calculus" for open data: Sahuguet & Sangokoya (2015)
The Open Data ROI FormulaProbability - P
Legal Frameworks
Lack of Trust
Data Standards
Data Literacy &
Culture
Data Community Incentives
A "calculus" for open data: Sahuguet & Sangokoya (2015)
The Open Data ROI Formula: Benefit - B
Accuracy Joined Up Data
Improved Coverage
Sustainable Data
Visibility Products & Services Insight Business
Models
A "calculus" for open data: Sahuguet & Sangokoya (2015)
The Open Data ROI Formula: Impact & Duty - D
Governance Quality of Life
IntraGovernment Interactions
Access for All
CSR Innovation Civic Action Community
A "calculus" for open data: Sahuguet & Sangokoya (2015)
The Open Data ROI Formula: Cost - C
Opening Operating Quality Legal
Liability Mandatory Privacy PR
A "calculus" for open data: Sahuguet & Sangokoya (2015)
Pulling the Levers
Focus on: Probability - P
As a ___________________, we want to increase the probability of benefit to ________________________from our open data
Focus on: Benefits - B
As a ____________________, we want to increase the benefits from our open data in ________________________
Focus on: Impact & Duty - D
As a ____________________, we want to make an impact with our open data in _______________ community
Focus on: Cost - C
As a ____________________, we want to reduce the cost of data use with our open data for _____________________.
Real Life Open Data ROI
Your Open Data ROI?▪ For you?▪ For your organisation?▪ For your sector?▪ For your domain?
